Commodity Prices

Gold •425 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,423.50	+53.00	+3.87%
WTI Crude •4 hours	64.61	+0.60	+0.94%
Gasoline •4 hours	1.995	+0.026	+1.32%
Ethanol •425 days	2.161	+0.000	+0.00%
Silver •425 days	30.82	+1.16	+3.92%

Silver • 425 days	30.82	+1.16	+3.92%
Copper • 425 days	4.530	+0.111	+2.51%
Brent Crude • 5 hours	68.15	+0.67	+0.99%
Natural Gas • 4 hours	2.982	-0.015	-0.50%
Heating Oil • 4 hours	2.310	+0.040	+1.78%

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Gold: Moving South?

By - May 27, 2014, 5:45 AM CDT

Gold has recently displayed a succession of small daily real bodies indicating a state of indecision. Monitor the support at 1284 (21/05/2014 low), as a break would confirm the underlying bearish structure. Another support lies at 1269. Resistances stand at 1304 (22/05/2014 high) and 1331.

Longer term, we are sceptical that the horizontal range between the strong support at 1181 (28/06/2013 low) and the major resistance at 1434 (30/08/2013 high) is a long-term bullish reversal pattern. As a result, a decline towards the low of this range is eventually favoured.

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